Home Market Rakesh Jhunjhunwala tunes in to Dish TV? Stock up over 3%

Rakesh Jhunjhunwala tunes in to Dish TV? Stock up over 3%

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Dish TV rallied over 3 per cent on Wednesday as a chunk of its shares changed hands in multiple block deals.

According to an ETNow report, marquee investors such as Rakesh Jhunjhunwala, East Bridge and Ohm Group are likely to be buyers in one such deal today, which is priced at Rs 71.25 per share.

Around 5.50 crore shares were traded in five block deals, according to ETNow. HDFC Mutual Fund is seen as a seller.

Dish TV rallied 3.23 per cent to Rs 75 at around 12.35 pm. The BSE Sensex was up 132 points, or 0.37 per cent, at 35,824.

Direct-to-home operator Dish TV last month reported a consolidated net profit at Rs 118.21 crore for the fourth quarter ended March. The company had suffered a net loss of Rs 29.49 crore during January-March a year before.

Its total income stood at Rs 1,545.11 crore during the quarter under review. It was Rs 732.36 crore in the same quarter of the previous fiscal.

On March 22, 2018, Videocon D2h Limited merged with Dish TV.

According to the company, financials of Dish TV for the quarter and year ended March 2018 represent three months of financial performance each of Dish TV India and Videocon D2h and hence, are not comparable.

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